Mahindra & Mahindra to launch SUV

Mahindra Mahindra has announced that it will launch a premium sports utility vehicle in India by the end of the next financial year which will be exported to the US. The company is investing Rs 700 crore to Rs 800 crore to develop the product and has developed the product keeping global markets in mind. They had come up with the vehicle to fill the vacuum above Scorpio in the SUV segment..

The product will be rolled out from its newly constructed facility at Chakan, which is expected to hit the Indian roads within a year. However the company has declined to give details about the expected price of the new premium SUV. Mahindra Mahindra (MM) President (Automotive) Pawan Goenka said that MM had committed an investment of Rs 2,500 crore for setting up a new facility at Chakan. The company would roll out 3-4 new products from Chakan facility, he added.